September proved to be the best month of the year for sales. According to the Multiple Listing Service (MLS) September’s 53 sales topped August by one sale. These two months account for 34 percent of this year’s sales.
It was good to see sales moving again. The late summer surge allowed for sales to make up some ground on 2008. For the same time period (Jan-Sept), 2009’s 314 sales are just 29 transactions behind 2008. Both years are far behind 2007 that saw 438 sales for the same period and had a year-end total of 556 homes trading hands. The past two years have seen a 100 less sales then the high of 2007.
September’s sales show a nice upward trend from the low of 21 sales in January. Median home price moved slightly upward from $505,500 in August to $517,000 this past month.
The most interesting thing to me was 23 properties sold fro or above list price. On average all the sales were at 100 percent of list price. This is a sign that price have hit bottom or people are aggressively pricing their homes. It appears that multiple offers are starting to come back with the decrease in inventory.
Sales for September broke down the following:
Total Sales: 53
Median Sale Price: $517,000
Average Sale Price: $562,064
Single Family Residences: 34
Multi Family: 3
High SFR: $1,622,500
Low SFR: $199,000
High Condo: $646,000
Low Condo: $199,000